Imagine the following: you’re quietly minding your business at work only for your productive reverie to be interrupted by a court summons. It turns out that one of your suppliers has applied for your business to be wound up due to an ongoing dispute that prompted you to withhold payment and which they now claim is proof of your company’s insolvency. In terms of the Companies Act, any creditor may apply for a company to be wound up on the basis that it is incapable of settling its obligations. Unfortunately, this otherwise sensible provision can be exploited by unscrupulous suppliers…
Business owners can charge a premium by building a trustworthy brand, especially if they are selling their goods or services online.
The Democratic Alliance’s proposal to establish a Small Business Ombudsman reeks of political campaigning rather than meaningful intervention.
Business owners should validate supplier and customer details before disclosing banking details and other sensitive information.
All income defined by the Income Tax Act as “remuneration” must be included when calculating whether an employee qualifies for the Employment Tax Incentive.